The Pohly Company honored among top 100 women-led businesses
Ranks 35th Largest in Massachusetts, up from 44th
BOSTON, Oct. 27, 2006 — The Pohly Company has been ranked the 35th largest woman-owned business in Massachusetts in a major research study released recently by The Center for Women’s Leadership at Babson College and The Commonwealth Institute. The Pohly Company was ranked 44th in last year’s study.
The Top Woman-Led Businesses in Massachusetts: 2005 Results study found that 55 percent of woman-led businesses in Massachusetts grew by more than 5 percent in 2005, which is approximately double the state and national averages of 2 percent and 2.6 percent, respectively. The Pohly Company grew by almost 30 percent from 2004 to 2005.
The study found that woman-run businesses are key drivers of Massachusetts’s revenue and employment. The companies in the survey that reported revenues generated $10 billion, and together, all the companies that participated in the study employed more than 21,000 people in Massachusetts.
This study, which was conducted for the fifth time and is a culmination of five years of data, identifies the top 100 woman-led businesses in the state, and it includes data from 191 woman-led firms. Following are other trends that the study uncovered:
- In contrast to businesses that focus on short-term gains and cost-cutting measures, an overwhelming majority of woman-led businesses surveyed expect to drive profitability through top-line revenue growth. 80 percent have identified expanding customer relationships as the key priority for driving future growth.
- Women business leaders are building their companies for the long-term instead of looking for quick exit strategies. The women CEOs were in their current position an average of 15 years, and 72 percent of the companies were founded by their current CEOs.
- Debunking the perception that women typically own lifestyle and retail-oriented businesses, woman-led businesses are as diverse as the Massachusetts economy. There is virtually no industry sector in which a woman-led firm cannot be found.
- Nearly 98 percent of woman-led businesses regularly contribute to local charitable and nonprofit organizations, and nearly one-third are engaged in philanthropic activity on a monthly basis.
- Although most CEOs are founders and controlling owners of their firms, more than 77 percent use a participatory leadership style, seeking opinions of others in their decision-making.
“The study uncovers valuable business lessons that we can all learn from,” said Professor Nan S. Langowitz, Director of the Center for Women’s Leadership at Babson College and chief researcher and author of the study. “The women CEOs are committed to building strong and thriving organizations for the long haul; their businesses are major engines of growth for the economy and key sources of philanthropy for the community. The CEOs’ focus on top-line growth has made their companies tremendously successful despite the economic environment of the past few years.”
“Women CEOs are outstanding role models for business success,” said Aileen Gorman, executive director of The Commonwealth Institute. “Their participatory leadership style encourages new ideas and strategic approaches. These CEOs value strong relationships with customers and employees and have made a key commitment to giving back to the community – demonstrating that good business and doing good go hand in hand.”
About the Study
Qualified participant companies have a woman chief executive who is the senior executive decision maker of the firm, are headquartered in Massachusetts, and are either independent businesses or legal subsidiaries of larger corporations. Medical, law and banking firms as well as non-profits were not included in the study. The full research report, including the Top 100 list, is available from Babson’s Center for Women’s Leadership and can be downloaded at www.babson.edu/cwl/top100.
About The Pohly Company
The Pohly Company is a diversified marketing and publishing company specializing in customer communications — creating and advancing marketing and publishing programs that drive emotional relationships with a company’s customers and best prospects. The company works with world-class brands and major associations that include Continental Airlines, Coca-Cola FoodService, UAW-DaimlerChrysler, Boston Whaler, Western Union, and the Boston Society of Architects. The Pohly Company is also the publisher of Fuel, a bimonthly newsletter for marketing and communications professionals that focuses on unconventional ways to reach and influence key customer groups.
